You need Common account number (CAN) for accessing this utility. You can open CAN by submitting filled CAN form with required documents at nearest MF Utility POS or MFU office. Once your CAN is opened you will be provided with login access to MFU. MF Utility can be accessed by visiting MFU website.

What are benefits of CAN?

CAN helps mutual fund customer to view all their details at single place like portfolio, KYC status, Income, nominee etc.

All transaction done using MF Utility will be automatically mapped to your account using CAN.

Consolidated view is visible at single place.

It eliminates need of filling forms while making investment in mutual funds.

Nomination update for all mutual funds holding at single click.

Some FAQ on MF Utility

What are fees of using MF Utility?

This platform is free. No charges are applicable.

Can I transfer my existing portfolio to this utility?

Yes you can transfer your existing portfolio to MFU. It is manually exercise and will not be done by MFU automatically.

KYC compliance is mandatory for CAN registration?

Yes KYC compliance is mandatory for CAN registration. If you are not KYC compliant this utility provides facility for KYC registration.

What is Single Payment System of MFU?

Single payment system means enabling investor to make single payment for number of investment.

E.g if you want to invest in three mutual funds

HDFC Bluechip Fund -2000 Rs

SBI Small & Mid cap fund -2000 Rs

Reliance Small Cap Fund -2000 Rs

Ideally you will make individual payment to these funds but using MFU you need to make single payment of 6000 Rs.

My Opinion

As per my opinion MFU is very good utility for mutual fund investors. This facility not only simplifies mutual fund investment but also help investor in tracking investment by providing consolidated dashboard view and alerts, reminders etc.

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2 Comments

Yes you can apply in to direct scheme using MF Utility.MF Utility allows investor to invest only in mutual funds while fundsindia provides additional investment facility in equity, gold, Insurance etc. Fundsindia also provide expert advice for investment which is not available in MF Utility.